Bajaj Allianz Life Insurance has launched new ULIP – Guaranteed Maturity Insurance Plan. This ULIP provides at maturity at least twice the value of single premium paid along with life cover.
With minimum single premium at Rs 5,000, the product offers the lowest single premium ULIP in the country, thereby making the product affordable for all income segments.
Bajaj Allianz Life Insurance launched this product to target the people living in small towns and rural areas, who rarely get a chance to invest in ULIPs mainly due to the high premium or the commitment to pay premiums year after year.
The sum assured will be five times the single premium for the first policy year, and for subsequent years it will reduce to 1.25 times the single premium for age-at-entry less than 45 years, and 1.10 times for 45 years and above.
The plan does not have any allocation charge and 100 per cent of the single premium paid by the policyholder goes into the unit account.
The plan offers you the following Key benefits:
1- Secure your investments with guarantee of two times the amount invested as maturity value.
2- No premium allocation charge
3- Option to buy multiple ‘Guaranteed Maturity Certificates’.
4- Flexibility to partially withdraw units after 5 years